The first is the PI Network. This organisation set out to find a way for ordinary people to mine Bitcoins. Their solution allows you to earn money by mining cryptocurrencies from your phone. Simply download the app and open it once a day to automatically mine Bitcoins.
Pi Network claims to be the first and only digital currency that can be mined on your phone. Pi Network is a project developed by Stanford graduates that claims to allow users to "mine" their currency on their phones. As explained in the white paper, Pi Network has opted for this to lower the barriers to cryptocurrency mining. The Pi Network app works in the same way as an affiliate marketing system, promising users future rewards for bringing in new users.
It is also similar to a multi-level marketing (MLM) system, as it provides higher profits to its first users. As an ambassador, you earn up to 25 above the base mining fee for each person you invite to the network. Pi cannot yet be traded, but more information on how the currency is expected to be used and traded in the future can be found in the Pi Network white paper, which is available in the app. The launch of the Pi Network mainnet is important because only then will the Pi coin be able to be listed on cryptocurrency exchanges, allowing it to be traded.
Pi Network (PI) has caught the attention of cryptocurrency investors before the coin is available for trading. But, on the other hand, users are being stripped of their time and data spent performing various activities on the network that do not bring value in return. The Pi Network, developed by a team of Stanford graduates, allows users to mine coins through its mobile phone application, validating transactions in a distributed log. But what is the Pi Network and how does it work? Have you heard about the new cryptocurrency and wondered about the value of the Pi coin as a potential investment? Users who have mined the Pi cryptocurrency will only be able to withdraw or exchange their coins during the third phase of the project, when it moves to a decentralised blockchain.
However, although the Pi network is relatively popular, many people are still curious about the platform and how it works. Nodes are the fourth role in the Pi ecosystem, running on laptops and desktops rather than mobile phones. The Pi Network project is apparently being developed by the conscious effort of a team of four Stanford graduates, Chengdiao Fan, an anthropologist, Nicolas Kokkalis and Aurélien Schiltz, computer scientists, and Vince McPhillips, a business student. Once the Pi mainnet is launched, the project says users will be able to store and exchange their Pi coins in external wallets in addition to their in-app wallet.
The future of Pi coin will depend on the process of transitioning from the test network to the mainnet and the adoption of applications in the Pi Network ecosystem.